From GlobeNewswire: 2025-02-13 02:00:00

In the fourth quarter of 2024, Arco Vara experienced shifts in Estonia’s real estate market, with an increase in apartment transaction volumes and record sales in new developments in Tallinn. Sales in Rannakalda doubled in the second half of the year, indicating market stabilization. Efforts continue on Kodulahe projects, with a new major project, Arcojärve, expected to begin construction in the second half of 2025.

Key performance indicators for Q4 2024 show a decrease in sales revenue compared to the previous year, with operating profit and net profit also declining. The group sold 9 apartments in the quarter and has 28 apartments ready in stock. Debt burden increased in the first 12 months of 2024, with interest rates slightly rising.

Operating report highlights sales revenue from real estate and services in Q4 2024, with new projects like Soodi 6 and Arcojärve planned for development. The completion of Rannakalda phase in Kodulahe resulted in 23 vacant units. Other projects like Kuldlehe and Botanica Lozen are progressing well, with pre-sales ongoing.

Consolidated statement of comprehensive income for 12 months of 2024 shows lower revenue and profit compared to 2023. Total assets and liabilities are detailed in the financial position statement, with equity also decreasing. Future sales targets for completed apartments and houses are set for the first half of 2025 and into 2026.



Read more at GlobeNewswire:: Unaudited consolidated interim report for Q4 and 12 months